Earlier quoted context omitted.
And the scientific consensus says they aren't in the same galaxy as ranking 99.9997% to 99.9998%. SAT, for example, is better than grades are predicting first year GPA, but it's still not that great.
My point wasn't about the level of validity. My point about making inane comments. OP claimed we don't know things which we DO know simply because OP hasn't bothered to look. Your numbers, 99.9997% to 99.9998%, roughly ask whether we can distinguish the second-best student in America from the fourth-best with an SAT. I'm not quite sure anyone is either using the SAT for that, or claiming it's a helpful tool for that.…
My assertion is that there's no way for them to accurately make distinctions that fine. Much more honest to set some bar of "you must be at least this proficient to perform academically at Yale" and then pull names out of a hat containing everyone who meets that standard.
As it stands, the current admissions regime looks designed to reify class privileges in America.